EconoMeter: Save defense jobs, damn the deficit?
'Fiscal cliff' approaches: Will San Diego suffer from defense cuts?
Roger Showley, U-T SAN DIEGO
Friday, July 20, 2012
Kelly Cunningham, National University Systems
The federal government needs to reduce spending, especially borrowed deficit spending. Extracted taxes and borrowed spending removes capital preventing the private sector from using it more productively. We are better served by not impeding the private sector. Reduced government spending therefore allows more economic growth, not prevents it. Military and defense cutbacks in San Diego, however, the nation’s leader for defense expenditures, will significantly impinge the local economy. Spending should be thoughtfully enacted to maintain essential national defense efforts. Sequestration would impose cutbacks without consideration of necessary strategic activities. San Diego could prosper from more targeted consolidations and realignments.